|
Search
Search through the thousands of lawsuits, complaints and recalls on our site.
 |
Case ID: 5147 | Stocks | 07/31/2008
According to a law firm press release, the complaint charges CIT and certain of its officers and directors with violations of the Securities Exchange Act of 1934. CIT is a leading commercial and consumer finance company, providing clients with financing and leasing products and advisory services in North America, Europe, Latin America and Asia Pacific.
The complaint alleges that during the Class Period, defendants made false and misleading statements about the Company's financial condition. Specifically, CIT's public financial statements failed to account for tens of millions of dollars in loans to Silver State Helicopter ("Silver State"), which were highly unlikely to be repaid and should have been written off. On March 6, 2008, Keefe, Bruyette & Woods issued an analyst report on CIT lowering its first quarter 2008 earnings per share estimate by $.08 based on concerns that CIT would have to write down a significant portion of its private student loan portfolio, including the risk that the Company would have to charge off $179 million of private student loans made to students of Silver State, which recently filed for bankruptcy. As a result, CIT's stock price dropped $4.50 to close to $15.86 on March 6, 2008.
Register your Cit Group ComplaintIf you or someone you know has been affected by this case, you may qualify for a money settlement as the result of your financial/economic or other damages that may be awarded either prior to a lawsuit or after the initiation of a lawsuit either currently in progress or filed just for you, possibly a class action lawsuit. Please simply register your complaint by clicking here for Cit Group, or click the red "submit" button on this page, and a lawyer will review your Cit Group complaint. By submitting your complaint, you are asking lawyers to contact you. You are under no obligation to accept their services and you are free to choose which lawyer you want to work with. Lawyers are usually paid out of the proceeds of the settlement or verdict rendered - the lawyers work on "contingency" by fronting the costs of your lawsuit based on their belief that they will recover a settlement for you. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed in the District Court of Maryland against RS Diversified Growth Fund, et al and certain of its officers and directors by stockholders who purchased the company’s common stock between October 6, 1999 and October 5, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. According to a law firm press release, a class action was filed on behalf of purchasers of all classes of shares of the Evergreen Ultra Short Opportunities Fund (NASDAQ: EUBAX, EUBBX, EUBCX, EUBIX) (the "Ultra-Short Opportunities Fund" or the "Fund") who purchased or otherwise acquired shares of the Fund within three years of the filing of the lawsuit, seeking to pursue remedies under the Securities Act of 1933 (the "Securities Act"). Prior to August 1, 2005, the Fund was known as the Evergreen Ultra Short Bond Fund.
Kahn Gauthier Swick, LLC (“KGS”) announces that it has filed the first class action lawsuit against Netlist, Inc. ("Netlist" or the "Company") (NasdaqGM:NLST), in the United States District Court for the Southern District of New York, on behalf of shareholders who purchased shares of the Company in connection with its Initial Public Offering ("IPO") on or about November 30, 2006, or who purchased shares thereafter in the open market (the "Class Period"). No class has yet been certified in this action. According to a press release dated April 11, 2008, the class action is brought against Oppenheimer Holdings Inc., Oppenheimer & Co. Inc, Oppenheimer Asset Management and Freedom Investments Inc. (collectively, "Oppenheimer"), in connection with the sale of auction rate securities, auction rate preferred stock, auction market preferred stock, variable rate preferred securities, money market preferred securities, periodic auction rate securities and auction rate bonds (collectively, "Auction Rate Securities").
On May 13, 2008, a motion to appoint Ropeta Group as lead plaintiff and to approve the selection of lead counsel was filed. Just as quickly, a stipulation and order was entered and signed by Judge Julian Abele Cook on May 19, 2008.
The parties have reached a tentative $750,000 settlement of a class action filed against adult entertainment and multimedia enterprise Metro Global Media, Inc. (Pink Sheets: MGMA, formerly OTCBB: MGMA) and certain of its officers and directors by stockholders who purchased the company's common stock between September 13, 1996, and September 13, 1999. To recover under the settlement, a completed proof of claim postmarked no later than October 27, 2003, must be mailed to the claims administrator.
|
IT'S FREE
|
© 2000 - 2008 Copyright. All rights reserved nola3, llc.
